ATHEX: Banks lead stock market lower still

The benchmark at Athinon Avenue narrowly managed to retain the 850-point mark at the end of Thursday’s session, covering some of the significant losses it had incurred from the start of trade due to the universal decline in international stock markets. While banks led the local bourse south throughout the day, it was two non-credit stocks – OTE telecom and OPAP – that contained the drop in the end.

The Athens Exchange (ATHEX) general index closed at 851.20 points, shedding 1.79% from Wednesday’s 866.73 points. The large-cap FTSE-25 index contracted 1.92%, ending at 2,041.27 points.

Banks remained the market’s weakest link, with their index slumping 4.36%. Piraeus sank 7.82%, National lost 5.70%, Alpha fell 4.86% and Eurobank declined 1.53%. Viohalco parted with 5.47% and Mytilineos gave up 4.79%, while OTE jumped 6.01% and OPAP advanced 0.45%.

In total 16 stocks secured gains, 88 recorded losses and 16 remained unchanged.

Turnover amounted to 122.1 million euros, up from Wednesday’s €84 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.62% to close at 66.83 points.